Sirius Canada posts higher revenue, profit

Canadian Satellite Radio Holdings Inc., the parent of Sirius XM Canada Inc., says it recorded net income of $6.1 million in the fourth quarter.

That's up from the $3.5 million in net revenue in the same quarter of 2011.

The company's quarterly revenue was $68.1 million, up 11.5 per cent from the same period in 2011.

Annual loss

For the 2012 fiscal year, the Toronto-based company logged a net loss of $4.1 million after losing more than $17 million in fiscal 2011.

Annual revenue was up 8.9 per cent to $259.6 million thanks to growth in the company's subscriber base.

Sirius XM Canada says it had 2.2 million total subscribers for a year-over-year net additions of 223,100.

"In fiscal 2012, we delivered significant growth in all of our key metrics and further solidified our position as a leader in the Canadian audio entertainment marketplace," said company president Mark Redmond.

"We are extremely pleased with our first-year's performance as a merged entity."

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